University increases Cycle to Work Scheme limit to £3,000 – and extends payment term
By: Sean Armstrong
Last updated: Monday, 18 January 2021
The University has increased its Cycle to Work lease limit to a maximum £3,000, providing greater choice of bicycles - and electric bikes in particular.
Changes to the scheme also mean that staff are able to extend their payment term beyond the current 12-month period, up to a maximum of 24 months (subject to terms). With significant savings available to staff, this enables a more expensive bike to be leased more affordably.
Director of HR, Siobhan O’Reilly said: “We’ve listened to feedback from staff about the Cycle to Work scheme and made these changes to support you in getting to work safely and sustainably – especially at a time when social distancing is so important.
"Cycling is a great way to improve fitness and health, but having cycled to work through the summer I know that the cycle home, up the hills around Brighton, can be exhausting and might put some people off the idea of commuting on a manual bike. Hopefully by making electric bikes more affordable the idea of cycling to work may become a more feasible option.”
To find out more about the Cycle to Work scheme, please visit the Cycle to Work information page for Sussex staff.
About the Cycle to Work scheme
The Cycle to Work scheme is a government-backed initiative that allows staff to obtain a bike and/or cycling accessories to use for riding to work while making tax and National Insurance savings from your gross pay.
Who is eligible to participate in the Cycle to Work scheme?
The scheme is open to all full‐time and part‐time employees of the University whose contracts will run beyond the length of the scheme term they opt for, at the time of ordering the bicycle.
Can employees from other organisations such as SussexFood or SEF apply?
Unfortunately the scheme is not available to employees from other organisations.
How does the scheme work?
You choose a new bike and cycle safety accessories worth up to £3,000 and the University buys it for you. They hire it back to you with reductions in your pre-tax monthly salary over 24 months (subject to terms). This is called ‘salary sacrifice’ and it allows you to get the new bike you want now and to spread the cost. At the end of the rental period you will have the option of taking ownership of your bicycle and/or equipment.
How and where can I get the bike?
You can view an extensive range of bicycles and equipment on the Cycle to Work information page for Sussex staff. If you’re interested in obtaining items from a local bike shop, Cycle Solutions may be able to set up a partnership agreement with the shop to allow this to happen.